Phate Zhang

Deutsche Bank expects the Nio main brand and the Onvo brand to launch a total of six new products in 2025, realizing 300,000 unit sales.

Onvo has begun pre-sales of the L60 at RMB 219,900 ($30,440), RMB 30,000 less than the Tesla Model Y. The L60 will hit the market and begin deliveries in September.

Xiaomi EV plans to increase its daily production time from 8 hours to 16 hours starting in June, with monthly production capacity expected to rise to nearly 20,000 units, according to local media.

Onvo's president met Nio's management in 2015 and joined Nio in January 2021 to work on creating Onvo's team.

Xiaomi EV said it is working on increasing its production capacity to ensure it meets its 100,000-unit delivery target this year.

Xpeng will reportedly use batteries from BYD in its Mona sub-brand. Aonther report earlier this month said Nio's Onvo sub-brand would use BYD batteries.

China urged the US to immediately correct its wrongdoings, saying the country will take resolute measures to defend its rights and interests.

Leapmotor International will initially cover markets including Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, and Portugal, and plans to expand its European sales network to 200 by the end of the year.

For May 1-12, Nio was 5,600, Xpeng 2,800, Li Auto 10,800, Xiaomi 2,000, Tesla 16,900, and BYD 101,300 units.

Xiaomi EV is asking its upstream suppliers to boost the supply of components, increasing orders by about 80 percent, according to local media.